It’s no secret that options abound for developers and investors in the northwest Harris County real estate market. One of those options is the senior housing market, which has expanded exponentially over the past several years as the communities in the area have ballooned in size. Here are some of the senior housing facilities that have recently been developed (or are currently underway) along with some of the reasons why this particular demand is surging.
Recent Senior Housing Facilities in Northwest Harris County
Over the past couple of years, several different facilities have been developed, including at least two that are currently under development, scheduled to open later this year. Here is a quick list of some of those facilities:
- Apex Oaks, Cypress Assisted Living & Memory Care
- Avanti Senior Living at Augusta Pines (under development)
- Bellaire Senior Lodges
- Heartis Senior Living of Cypress
- The Retreat at Westlock
- Spring Cypress Assisted Living and Memory Care (under development)
- Sundance at Towne Lake
While that looks like a long list of options for senior citizens, the demand for even more options is still there in and around the Cypress area. One of the reasons for this is the large population of baby boomers, a generation born between 1946 and 1964. This generation makes up a large cohort of the overall Texas population — 24%, to be exact. As of the 2010 Census, 8.15% of these people were over the age of 65 years and only 28% of people under the age of 18. In other words, there is a large segment of the population that is aging into the senior housing community, a number that will grow even larger as the years go by.
This is compounded by the fact that Houston itself is growing, particularly in the northwest sector as developers snap up land to build more housing. Between 1992 and 2017, according to data collected by the Harris County Appraisal District, the city’s population ballooned from 2,944,348 to 4,633,511 — nearly doubling in size, owing in large part to the oil and gas industry as well as other businesses flooding into the city.
The Perfect Opportunity for Developers
Looking at all of the numbers together, it is easy to see that the market for senior housing options in northwestern Harris County has nowhere to go but up. The community will need not only nursing homes, but Alzheimer’s care, assisted living facilities, independent living communities for seniors and more. Developers that invest in land now for future senior facilities can expect to reap major rewards in the future.
As Harris County continues to grow, particularly the northwestern section of the county, so too will the demand for senior housing options. One has only to look at the population statistics for the area to see that the demand for services for the elderly will go up across the board.